DLF s rental arm acquires Hines 51.8% stake in Fairleaf
Fairleaf was a joint venture company between DLF and funds managed by Hines which owned and operated One Horizon Centre in Gurugram.
BusinessToday.In | February 18, 2021 | Updated 21:53 IST
In December, DLF had said that DCCDL had entered into a securities purchase agreement with funds managed by Hines to acquire their 51.8 per cent stake in Fairleaf.
Real estate developer DLF on Thursday said its rental arm DLF Cyber City Developers Limited (DCCDL) has acquired 51.8 per cent stake from Hines in Fairleaf Real Estate Private Limited.
Fairleaf was a joint venture company between DLF and funds managed by Hines, a global real estate investment, development and management firm, which owned and operated One Horizon Centre in Gurugram.
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Why DLF share price rose 13% today
DLF shares hit fresh 52-week high of Rs 277.8, up 12.46 per cent, on the Bombay Stock Exchange amid strong volume
BusinessToday.In | January 12, 2021 | Updated 14:51 IST
DLF shares delivered a return of 142 per cent over the last nine months
Shares of DLF rallied nearly 13 per cent in intraday trade to hit record high of Rs 277.8 on the Bombay Stock Exchange on Tuesday amid strong volume. Analysts have turned bullish on realty stocks, such as Godrej Properties and DLF, citing demand revival and shifting consumer preferences in wake of COVID-19 pandemic.
Brokerage firm Jefferies has projected that residential sales may cross 2019 levels and prices will rise over 10 per cent over next two years. It expects inventory to fall to 8-year low by end of 2021. The brokerage firm has selected Godrej Properties and DLF as top picks in the real estate sector.
Nifty, Sensex continues to rise – Monday closing report
Moneylife Digital Team / IANS
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We had mentioned in previous week’s closing report that Nifty, Sensex were trending higher. On Monday, the major indices continued to climb higher. On the NSE, there were 1,357 advances, 549 declines and 341 unchanged.
The trends of the major indices in the course of Monday’s trading are given in the table below:
DLF plans to acquire 51.8% stake in Fairleaf, a joint venture company. DLF Cyber City Developers holds a 48.2% stake in Fairleaf Real Estate Private Limited.
Reliance Industries will buy IMG Worldwide’s 50 percent stake in the joint venture entity. IMG Reliance Limited is a joint venture between IMG Worldwide LLC and RIL.
DLF share rises 5% as arm to acquire Hines stake in One Horizon Centre
DLF stock touched an intraday high of Rs 239, rising 5.71% on BSE. Market cap of the firm rose to Rs 58,157 crore on BSE
BusinessToday.In | December 28, 2020 | Updated 16:42 IST
DLF share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages
DLF share price rose over 5% today after the real estate player said it was buying a 51.8 percent stake in Fairleaf for Rs 780 crore. DLF stock touched an intraday high of Rs 239, rising 5.71% on BSE. Market cap of the firm rose to Rs 58,157 crore on BSE.
The realty stock opened with a gain of 3.94% at Rs 235 against previous close of Rs 226.10 on BSE.